Why Do Professionals Need to Consider Disability Insurance in Canada?

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Why Do Professionals Need to Consider Disability
Insurance in Canada?
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What happens when you face an unwanted illness or
accident? How to manage your family and finances
at the time of chronic illness? Do you have any
idea how to cover your financial obligations? If
you want to ensure comfort for your family and
financial stability, consider getting disability
insurance in Canada.
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Most people think that they will not experience
any unwanted incidents that would prevent them
from working. The statistics show that 1 in 8
Canadians faces disability issues at any given
time! Who would handle your familys financial
needs if you have to take a long period of work
off due to a chronic illness or injury? Getting
disability insurance in Canada offers financial
stability and protects your family if you take
time off from your workplace due to disability.
Here are some helpful points that justify the
importance of getting disability insurance
coverage.
Employers Insurance is not sufficient
Do you think the insurance provided by the
employer can cover your financial needs? Most
people assume having the right coverage with
disability insurance provided by their employer.
But you may not be aware of the limitations!
Employer-sponsored disability insurance plans
have coverage limits that cover work-related
illnesses or injuries. Employer-sponsored
insurance plans are active until you are working
in the company. Once you leave the company or
retire, you may not be eligible to get coverage
under their disability insurance plan. It is a
good idea to consider getting a disability
insurance plan to fill the gaps in coverage and
stay adequately protected.
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Risk of Disability
It is hard for most people to think that
disabilities are common! You may not know about
the risk of disability. Staying away from the
office or workplace due to a disability is
unpredictable. It can happen at any time! Do you
think most disabilities happen due to
catastrophic events? Are you thinking disability
insurance is only for facing job site accident
that results in paralysis or limb amputation? It
is a misconception! Statistics estimate that 1
in 5 working adults experience a disability
lasting longer than 60 to 90 days before they
take retirement. According to the World Health
Organization (WHO), disabilities are more likely
to be caused due to chronic conditions like
cardiovascular disease, arthritis, cancer, and
mental illness than by workplace accidents. So,
be aware of the risk level and stay protected
with a reliable disability insurance plan!
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Your Emergency Savings May Fall Short
Do you think your emergency savings are enough to
provide financial support during any unwanted
incident? Your emergency saving may not be enough
to cover your financial need at the time of
long-term disability. Income is an essential
asset for a working adult with a family and home
to run. Getting disability insurance ensures
fulfilling your familys financial needs while
you recover from a chronic illness or injury. If
you are a working adult, think that your family
is dependent on your income. You can consider
getting a Canada disability insurance plan that
suits your requirement with the guidance and
advice of an insurance specialist- Gurinder
Chahal. Contact us today at [phone] to
get more information about disability insurance
in Canada that protects you and your family!